Current practices, new insights, and emerging trends of financial technologies
| DOI | https://doi.org/10.1108/IMDS-08-2019-0431 |
| Pages | 1401-1410 |
| Date | 12 August 2019 |
| Published date | 12 August 2019 |
| Author | Xiuping Hua,Yiping Huang,Yanfeng Zheng |
| Subject Matter | Information & knowledge management |
Current practices, new insights,
and emerging trends of
financial technologies
Xiuping Hua
Centre for Inclusive Finance, Business School,
University of Nottingham, Ningbo, China
Yiping Huang
National School of Development, Peking University, Beijing, China, and
Yanfeng Zheng
Faculty of Business and Economics, University of Hong Kong, Hong Kong
Abstract
Purpose –Financial technologies, also known as “FinTech,”have brought disruptive changes to virtually
every aspect of financial services and are becoming increasingly important in the world economic system.
The purpose of this paper is to proffer a bird view ofsome recent studies in the key research areas of FinTech,
such as artificial intelligence, blockchain, crowdfunding and then to summarize the key contributions made
by all the six papers in this special issue.
Design/methodology/approach –A literature review approach is adopted, and the summary shows that
most types of FinTech innovations generate positive value to innovators, financial customers and the society.
The current implications and future directions are explored based on theoretical and empirical analyses.
Findings –The benefits from and determinants of FinTech applications vary across different financial
sectors. Together the summary of this special issue suggests that there is substantial value creation in further
exploring the dynamics, mechanisms and social consequences of FinTech.
Originality/value –This study helps to extend knowledge by summarizing the current practices, proffering
new insights and watching out emerging trends of financial technologies, and to shed light on a variety of
subjects of interest to practitioners, academics and policy makers by suggesting for the future research topics.
Keywords Blockchain, Cryptocurrency, Crowdfunding, Artificial intelligence (AI)
Paper type Editorial
1. Introduction
Financial technologies, known as “FinTech,”have brought disruptive changes to virtually
every aspect of financial services, and is currently revolutionizing the whole financial
industry (Goldstein et al., 2019). Driven by start-ups and technology firms, FinTech covers a
wide range of applications from cryptocurrency, mobile payments, marketplace financing,
robo-advisors, to smart contracts and even decentralized autonomous organizations (Böhme
et al., 2015; Yu et al., 2017). FinTech has received significant attention among not only
practitioners, investors, regulators but also consultants and academia who are curious
about how these novel technologies and changes impact organizations and even broader
financial system (Stanko et al., 2017; The Libra Association, 2019; Chong et al., 2019).
In a world that is increasingly focused on integrating digital technology innovations
into normal people’s lives, accustoming users to FinTech is capable of creating
long-lasting and valuable effects and helping firms gain sustainable competitive
advantages. FinTech helps to reduce the costs, to increase the reachability of customers,
and to manage risks in a more efficient way. In this special issue, several key emerging Industrial Management & Data
Systems
Vol. 119 No. 7, 2019
pp. 1401-1410
© Emerald PublishingLimited
0263-5577
DOI 10.1108/IMDS-08-2019-0431
Received 10 August 2019
Accepted 12 August 2019
The current issue and full text archive of this journal is available on Emerald Insight at:
www.emeraldinsight.com/0263-5577.htm
The authors are grateful to Professor Alain Chong, Professor Hing Kai Chan and Dr Zhao Cai for their
support for the special issue. This paper was supported by National Office for Philosophy and Social
Science of China under National Social Science Fund programmes 2019 with Project Code 19BJY252.
1401
Financial
technologies
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